STOCKS NEWS EUROPE-Smith&Nephew dips; J&J signals slowdown

Shares in Smith & Nephew (SN.L), Europe's biggest medical devices company, buck a firmer market to lose 0.9 percent after rival Johnson & Johnson (JNJ.N) reports slower growth in its U.S. hip replacement business.

"We see little sign of a recovery in the orthopaedic market, evidenced by J&J's results today, and continue to question the ability of the company (Smith & Nephew) to deliver on its margin improvement targets whilst remaining competitive," says Nomura Code analyst Charles Weston.

For more on J&J second-quarter results double click on [ID:nN14253944]

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